The company's inclusion is a sort of official recognition that it's one of the largest publicly traded corporations in the U.S. That's not common for tech companies who devote most of their business to the public sector.
Tyler Technologies, which provides a broad array of technology to state and local government in the U.S., is hitting the S&P 500 list.
The move, which is essentially a recognition of Tyler as a large, financially stable, publicly traded company, will make Tyler the second company from the GovTech 100 list to make the S&P 500 after Motorola Solutions.
“Tyler’s inclusion as part of the S&P 500 is a major milestone for the company, reflecting our consistent growth and expanding market capitalization over the last two decades,” said Lynn Moore, president and CEO of the company, in a statement. “Tyler’s commitment to providing essential software and services to support the public sector remains stronger than ever. We’re proud to be listed among other innovative and highly-regarded companies on the S&P 500 index.”
It could be argued that since Motorola Solutions has less of a singular focus on the public sector than Tyler that Tyler’s inclusion marks the first pure gov tech company to make the list. There are many other technology firms that have appeared on the S&P 500 that government does business with: Accenture, Oracle, CDW and Cisco among them.
The move brings Tyler up from Standard & Poor’s MidCap 400 index, which is stocked with smaller companies than the 500.
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